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Rutgers University Financial Statistics and Risk Management program

Rutgers University Financial Statistics and Risk Management program

Full-time, part-time
Application deadline
Piscataway, NJ
The MS in Financial Statistics and Risk Management (FSRM) at Rutgers University is a highly competitive STEM-designated program that attracts top students from around the United States and the world. Students typically have a highly quantitative background in mathematics, statistics, finance, engineering, computer science, or related fields and possess advanced coding and programming skills. The FSRM program is designed to be at the intersection of Data Science, Quantitative Finance, and Financial Risk Management. This makes the FSRM Program unique in emphasizing statistical tools and data analytics for measuring, monitoring, managing and mitigating uncertainty, risk and volatility. Students in the program receive core training in finance, risk management, probability theory, statistical inference and advanced statistical and computational methods tailored to financial data analysis and modeling and risk management. They also receive supportive education in market structure, operations, trading instruments and risk-related regulation. As of Spring 2019, professors of practice included Gordon Ritter, Risk.net’s buy-side quant of the year award winner.

With the marked increase in applications of machine learning and artificial intelligence in finance, the FSRM program is well positioned to prepare students for roles in this new frontier of finance given its heavy focus on statistics and data analysis – two core building blocks and competencies needed for machine learning and artificial intelligence applications. Courses are offered in the evening and the program is often completed in 3 semesters. Students can enroll full-time or part-time. In addition, students have the option of earning a Certificate in Data Science from our sister program, the MS in Data Science.

Given the above, its close proximity to New York City and Rutgers’ nearly 500,000 alumni, the FSRM program has a unique value proposition among quant programs in the US.

Career Development: The program has established the Office of Professional Programs that is dedicated to the professional development and career advancement of FSRM students as well as to building corporate relationships with potential employers. The office is led by two Wall Street veterans with decades of combined experience. The Office of Professional Programs offers highly specialized professional development services that include resume workshops, one-on-one career strategy sessions, interview preparation and exclusive internship and full-time job postings.

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Program website: Financial Statistics and Risk Management | School of Arts and Sciences - Rutgers, The State University of New Jersey
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I am always grateful with my studying experience at FSRM program, because the knowledge l learned here is exactly what is used in my career. From classical statistics inference to the modern data analysis techniques like machine learning, the courses almost include all fundamental techniques that are prevalent for decades in the financial risk management field, as well as some innovation aspects in the banking industry; From the real world probability measure learned in the regression and time series analysis, to the risk neutral probability measure introduced in stochastic process, the probability models enable me to analysis the world from both backward looking and forward looking.

I think the meaning of FSRM is not limited to my career path development, but also a such wonderful journey and life experience that allows me to wandering around different techniques to interpret data and explore the truth.
The FSRM program at Rutgers helps me a lot to dive deep into the field of financial statistics and risk management and has given me an incredible experience to become a quantitative risk analyst.

The curriculum covers all key dimensions of financial statistics and risk management with an emphasis on real-world financial data analysis and applications. The professional services benefit a lot of students to get their first U.S experience in financial technology, brokerage and banking industries. The practitioner seminar invites outstanding
professionals from the industry, providing a good opportunity for us to learn practical applications and to network with potential employers. Some courses are instructed by the best industrial practitioner on Wall Street (2018 Buy-side quant of the year), demonstrating to us how statistical theories are applied in buy-side investment and risk management. Practical projects, real-world case studies, opportunities to talk with outstanding alumni and various workshops about financial theory, all keep students ahead of the curve and closely in tune with changing financial markets. The close-knit FSRM community always give me the feeling of being at home and supported.
I'm a graduate of May 2019 from FSRM. This program is truly awesome, every course is helpful and necessary for you to become a young profession in quant, especially in the field of risk management. The disadvantages are that you can only take 10 or 11 courses due to the two-year time limit, you have to make choices on what to take away from there.